Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Township has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or before September 30, 2024 and also has not elected to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award
activity of the Charter Township of Delta, Michigan, under programs of the federal government for the year
ended December 31, 2024. The information in this Schedule is presented in accordance with the requirements
of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of the Charter Township of Delta, Michigan, it is not intended to and does not present
the financial position or changes in net position of the Charter Township of Delta, Michigan.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Township has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or before September 30, 2024 and also has not elected to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown
on the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
The Township has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform
Guidance for awards executed on or before September 30, 2024 and also has not elected to use the 15-percent
de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1,
2024.
Title: RECONCILIATION WITH AUDITED FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Township has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or before September 30, 2024 and also has not elected to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024.
The following reconciles the intergovernmental revenues reported in the December 31, 2024, basic
financial statements to the expenditures of the Township administer federal programs reported on the
Schedule of Expenditures of Federal Awards:
Per basic financial statements
State and federal grants $ 2,253,286
Less state grants (332,164)
Total federal grants 1 ,921,122
Federal expenditures capitalized 3 ,812,077
Total expenditures of federal awards $ 5,733,199